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32-2-1213. Board of directors -- lack of quorum -- temporary board members - 32-2-1213. Board of directors -- lack of quorum -- temporary...
32-2-1214. Hearings -- decision -- review, modification, termination, or stay of orders - 32-2-1214. Hearings -- decision -- review, modification, termination, or stay...
32-2-1215. Notices and orders -- manner of service -- copies to federal authorities - 32-2-1215. Notices and orders -- manner of service -- copies...
32-2-1216. Enforcement of notices or orders - 32-2-1216. Enforcement of notices or orders. The commissioner may apply...
32-2-1217. Violation of notice or final order -- penalties - 32-2-1217. Violation of notice or final order -- penalties. Any...
Chapter 3. Credit Unions
Part 1. General Provisions
32-3-101. Short title - 32-3-101. Short title. This chapter shall be known and may...
32-3-102. Purposes -- definitions - 32-3-102. Purposes -- definitions. (1) The purposes of a credit...
32-3-103. Use of name exclusive - 32-3-103. Use of name exclusive. (1) The name of any...
32-3-104. Office facilities - 32-3-104. Office facilities. (1) A credit union may change its...
32-3-105. Fiscal year - 32-3-105. Fiscal year. The fiscal year of each credit union...
32-3-106. Establishment of a student financial institution - 32-3-106. Establishment of a student financial institution. Credit unions may...
Part 2. Regulation
32-3-201. Department of administration - 32-3-201. Department of administration. (1) The department of administration shall...
32-3-202. Reports - 32-3-202. Reports. (1) Credit unions organized under this chapter shall...
32-3-203. Examinations - 32-3-203. Examinations. (1) The department of administration shall examine or...
32-3-204. Records - 32-3-204. Records. (1) A credit union shall maintain all books,...
32-3-205. Cease and desist orders -- suspension -- involuntary liquidation - 32-3-205. Cease and desist orders -- suspension -- involuntary liquidation....
32-3-206. Authorized activities of credit unions - 32-3-206. Authorized activities of credit unions. Upon written application to...
32-3-207. Confidentiality -- penalties - 32-3-207. Confidentiality -- penalties. (1) (a) Any report of examination...
32-3-208. through 32-3-210 reserved - 32-3-208 through 32-3-210 reserved.
32-3-211. Conservatorship - 32-3-211. Conservatorship. (1) In conjunction with a suspension order or...
32-3-212. Involuntary merger - 32-3-212. Involuntary merger. The department of administration may initiate the...
32-3-213. and 32-3-214 reserved - 32-3-213 and 32-3-214 reserved.
32-3-215. Out-of-state credit unions - 32-3-215. Out-of-state credit unions. (1) A credit union chartered under...
32-3-216. Conducting business outside this state - 32-3-216. Conducting business outside this state. (1) A credit union...
Part 3. Organization, Membership, and Dissolution
32-3-301. Organization procedure - 32-3-301. Organization procedure. (1) Any seven or more residents of...
32-3-302. Form of articles and bylaws - 32-3-302. Form of articles and bylaws. In order to simplify...
32-3-303. Amendments - 32-3-303. Amendments. (1) The articles of incorporation or the bylaws...
32-3-304. Membership defined - 32-3-304. Membership defined. (1) The membership of a credit union...
32-3-305. Societies -- associations - 32-3-305. Societies -- associations. (1) Societies and partnerships composed primarily...
32-3-306. Other credit unions - 32-3-306. Other credit unions. Any credit union organized under this...
32-3-307. Limited-income persons - 32-3-307. Limited-income persons. Existing credit unions may include within their...
32-3-308. Members who leave field - 32-3-308. Members who leave field. Members who leave the field...
32-3-309. Liability of members - 32-3-309. Liability of members. The members of the credit union...
32-3-310. Meetings of members - 32-3-310. Meetings of members. (1) The annual meeting and any...
32-3-311. through 32-3-320 reserved - 32-3-311 through 32-3-320 reserved.
32-3-321. Liquidation - 32-3-321. Liquidation. (1) A credit union may elect to dissolve...
32-3-322. Merger - 32-3-322. Merger. (1) Any credit union may, with the approval...
32-3-323. Conversion of charter - 32-3-323. Conversion of charter. (1) A credit union chartered under...
Part 4. Operation and Officers
32-3-401. General powers - 32-3-401. General powers. A credit union may: (1) make contracts...
32-3-402. Incidental powers - 32-3-402. Incidental powers. A credit union may exercise such incidental...
32-3-403. Election or appointment of officials - 32-3-403. Election or appointment of officials. (1) The credit union...
32-3-404. Record of board and committee members - 32-3-404. Record of board and committee members. Within 30 days...
32-3-405. Vacancies - 32-3-405. Vacancies. (1) The board of directors shall fill any...
32-3-406. Compensation of officials - 32-3-406. Compensation of officials. (1) An official of the credit...
32-3-407. Conflicts of interest - 32-3-407. Conflicts of interest. A director, committee member, officer, agent,...
32-3-408. Executive officers - 32-3-408. Executive officers. (1) At their next meeting following each...
32-3-409. Authority of directors - 32-3-409. Authority of directors. The board of directors shall have...
32-3-410. Executive committee - 32-3-410. Executive committee. From the persons elected to the board,...
32-3-411. Meetings of board of directors and committees - 32-3-411. Meetings of board of directors and committees. (1) Either...
32-3-412. Repealed - 32-3-412. Repealed. Sec. 2, Ch. 117, L. 2015. History: En....
32-3-413. Repealed - 32-3-413. Repealed. Sec. 14, Ch. 317, L. 2015. History: En....
32-3-414. Repealed - 32-3-414. Repealed. Sec. 14, Ch. 317, L. 2015. History: En....
32-3-415. Repealed - 32-3-415. Repealed. Sec. 14, Ch. 317, L. 2015. History: En....
32-3-416. Credit committee or credit manager duties - 32-3-416. Credit committee or credit manager duties. (1) A credit...
32-3-417. Audits - 32-3-417. Audits. (1) The board of directors or supervisory committee...
32-3-418. Suspension and removal of officials - 32-3-418. Suspension and removal of officials. (1) The supervisory committee...
32-3-419. Calling of special meeting - 32-3-419. Calling of special meeting. The supervisory committee by a...
32-3-420. and 32-3-421 reserved - 32-3-420 and 32-3-421 reserved.
32-3-422. Duties of directors -- rulemaking - 32-3-422. Duties of directors -- rulemaking. (1) General duties of...
Part 5. Shares and Accounts
32-3-501. Shares - 32-3-501. Shares. (1) The capital of a credit union consists...
32-3-502. Dividends - 32-3-502. Dividends. At the intervals and for the periods that...
32-3-503. Thrift accounts - 32-3-503. Thrift accounts. Christmas clubs, vacation clubs, and other thrift...
32-3-504. Minors' accounts - 32-3-504. Minors' accounts. Shares may be issued to a minor...
32-3-505. Joint accounts - 32-3-505. Joint accounts. (1) A member may designate any person...
32-3-506. Shares in trust - 32-3-506. Shares in trust. (1) Shares may be issued in...
32-3-507. Liens - 32-3-507. Liens. The credit union has a lien on the...
32-3-508. Dormant accounts - 32-3-508. Dormant accounts. When administering member accounts that are dormant,...
32-3-509. Reduction in shares - 32-3-509. Reduction in shares. (1) Whenever the losses of any...
32-3-510. Withdrawals - 32-3-510. Withdrawals. Shares may be withdrawn for payment to the...
Part 6. Loans and Insurance
32-3-601. Repealed - 32-3-601. Repealed. Sec. 14, Ch. 317, L. 2015. History: En....
32-3-602. Loan application - 32-3-602. Loan application. Every application for a loan must be...
32-3-603. Loan limit - 32-3-603. Loan limit. No loan shall be made to any...
32-3-604. Security -- real property loans - 32-3-604. Security -- real property loans. (1) In addition to...
32-3-605. Installments - 32-3-605. Installments. A member may receive a loan in installments...
32-3-606. Line of credit - 32-3-606. Line of credit. Upon their own motion or upon...
32-3-607. Other loan programs - 32-3-607. Other loan programs. (1) A credit union may participate...
32-3-608. Loans to officials - 32-3-608. Loans to officials. (1) (a) Except as provided in...
32-3-609. Insurance for members -- debt cancellation and suspension programs - 32-3-609. Insurance for members -- debt cancellation and suspension programs....
32-3-610. Liability insurance for officers - 32-3-610. Liability insurance for officers. A credit union may purchase...
32-3-611. Share insurance - 32-3-611. Share insurance. (1) Each credit union shall maintain insurance...
Part 7. Investments and Reserves
32-3-701. Investment of funds -- rulemaking - 32-3-701. Investment of funds -- rulemaking. (1) Funds not used...
32-3-702. Maintenance of regular reserve account - 32-3-702. Maintenance of regular reserve account. The department of administration...
32-3-703. Use of regular reserve account - 32-3-703. Use of regular reserve account. The regular reserve account...
32-3-704. Repealed - 32-3-704. Repealed. Sec. 3, Ch. 64, L. 2003; sec. 40,...
32-3-705. Special reserves - 32-3-705. Special reserves. In addition to the regular reserve account,...
Part 8. Corporate Credit Unions
32-3-801. Organization - 32-3-801. Organization. A corporate credit union may be organized and...
32-3-802. Purpose -- membership - 32-3-802. Purpose -- membership. (1) A corporate credit union must...
32-3-803. Voting representative -- conflict of interest - 32-3-803. Voting representative -- conflict of interest. (1) Each credit...
32-3-804. Additional rights and powers -- department rules - 32-3-804. Additional rights and powers -- department rules. (1) Except...
32-3-805. Membership capital accounts - 32-3-805. Membership capital accounts. (1) A corporate credit union may...
32-3-806. Fixed assets -- department rules - 32-3-806. Fixed assets -- department rules. (1) A corporate credit...
32-3-807. Corporate reserves -- department rules - 32-3-807. Corporate reserves -- department rules. (1) A corporate credit...
32-3-808. Annual audit - 32-3-808. Annual audit. (1) The supervisory committee of a corporate...
32-3-809. Contracts and written agreements - 32-3-809. Contracts and written agreements. Services, facilities, personnel, or equipment...
32-3-810. Paid-in capital defined -- authorized - 32-3-810. Paid-in capital defined -- authorized. (1) "Paid-in capital" means...
Part 9. Taxation
32-3-901. Taxation - 32-3-901. Taxation. All credit unions organized under this or any...
32-3-902. Stock transfer taxes - 32-3-902. Stock transfer taxes. The shares of any credit union...
32-3-903. Effect of participation in government programs - 32-3-903. Effect of participation in government programs. The participation by...
Part 10. Penalties
32-3-1001. and 32-3-1002 reserved - 32-3-1001 and 32-3-1002 reserved.
32-3-1003. Penalty for false statements or entries to books and records - 32-3-1003. Penalty for false statements or entries to books and...
32-3-1004. Penalty for fraud by director, executive officer, agent, or employee - 32-3-1004. Penalty for fraud by director, executive officer, agent, or...
32-3-1005. Theft of funds - 32-3-1005. Theft of funds. (1) The following conditions are considered...
32-3-1006. and 32-3-1007 reserved - 32-3-1006 and 32-3-1007 reserved.
32-3-1008. Concealing actions from directors - 32-3-1008. Concealing actions from directors. (1) An officer or employee...
32-3-1009. False statement to obtain or extend loan - 32-3-1009. False statement to obtain or extend loan. An individual...
32-3-1010. through 32-3-1012 reserved - 32-3-1010 through 32-3-1012 reserved.
32-3-1013. Removal of directors, officers, employees -- hearing - 32-3-1013. Removal of directors, officers, employees -- hearing. (1) A...
Chapter 4. Development Corporation Act
32-4-101. Definitions - 32-4-101. Definitions. As used in this chapter, the following words...
32-4-102. Purpose - 32-4-102. Purpose. (1) The purposes of the corporation shall be...
32-4-103. Credit of state and local governments not pledged - 32-4-103. Credit of state and local governments not pledged. Under...
32-4-104. Application of corporation law - 32-4-104. Application of corporation law. The provisions of Title 35...
Part 2. Organization
32-4-201. Incorporators -- general powers -- capital stock -- articles of incorporation - 32-4-201. Incorporators -- general powers -- capital stock -- articles...
32-4-202. Duration - 32-4-202. Duration. The period of duration of the corporation shall...
32-4-203. Certificate of incorporation - 32-4-203. Certificate of incorporation. Before the articles of incorporation may...
32-4-204. Effect of failure to commence business - 32-4-204. Effect of failure to commence business. If a corporation...
32-4-205. Amendment of articles of incorporation - 32-4-205. Amendment of articles of incorporation. (1) The articles of...
32-4-206. Board of directors - 32-4-206. Board of directors. (1) The business and affairs of...
32-4-207. First meeting of corporation - 32-4-207. First meeting of corporation. (1) The first meeting of...
32-4-208. Stock ownership and limitations - 32-4-208. Stock ownership and limitations. Notwithstanding any rule at common...
Part 3. Operation and Regulation
32-4-301. Powers of stockholders - 32-4-301. Powers of stockholders. (1) The stockholders of the corporation...
32-4-302. Membership -- limitation and apportionment of loans by members - 32-4-302. Membership -- limitation and apportionment of loans by members....
32-4-303. Withdrawal of membership - 32-4-303. Withdrawal of membership. (1) Membership in the corporation shall...
32-4-304. Surplus - 32-4-304. Surplus. Each year the corporation shall set apart as...
32-4-305. Deposit of funds - 32-4-305. Deposit of funds. (1) The corporation shall not deposit...
32-4-306. Control -- supervision -- reports - 32-4-306. Control -- supervision -- reports. The corporation is subject...
Chapter 5. Consumer Loan Businesses
32-5-101. Short title - 32-5-101. Short title. This chapter may be cited as the...
32-5-102. Definitions - 32-5-102. Definitions. For the purposes of this chapter, the following...
32-5-103. Engaging in business of making consumer loans restricted - 32-5-103. Engaging in business of making consumer loans restricted. (1)...
32-5-104. Repealed - 32-5-104. Repealed. Secs. 22, 24(1), Ch. 372, L. 2007. History:...
Part 2. Licensure Requirements
32-5-201. License and renewal application fees - 32-5-201. License and renewal application fees. (1) (a) Each place...
32-5-202. Issuance or denial of license or license renewal - 32-5-202. Issuance or denial of license or license renewal. (1)...
32-5-203. Conduct of other business in same office - 32-5-203. Conduct of other business in same office. A licensee...
32-5-204. Repealed - 32-5-204. Repealed. Sec. 15, Ch. 173, L. 2013. History: En....
32-5-205. Surrender of license - 32-5-205. Surrender of license. A license may be surrendered on...
32-5-206. Termination of license not to affect preexisting contract - 32-5-206. Termination of license not to affect preexisting contract. No...
32-5-207. Notice of violation -- administrative hearing -- penalties -- liability - 32-5-207. Notice of violation -- administrative hearing -- penalties --...
32-5-208. Reinstatement - 32-5-208. Reinstatement. The department may reinstate any revoked license if...
32-5-209. Department authorized to participate in nationwide licensing system for purposes of licensing consumer loan licensees -- rulemaking - 32-5-209. Department authorized to participate in nationwide licensing system for...
Part 3. Operation of Business -- Restrictions and Requirements
32-5-301. Fees charged to consumers - 32-5-301. Fees charged to consumers. (1) A licensee may contract...
32-5-302. Installment and balloon payments - 32-5-302. Installment and balloon payments. (1) Except as provided in...
32-5-303. Borrower to receive copy of contract or statement of contents - 32-5-303. Borrower to receive copy of contract or statement of...
32-5-304. Receipts -- return of note - 32-5-304. Receipts -- return of note. Every licensee shall: (1)...
32-5-305. Confessions of judgment -- incomplete instruments forbidden - 32-5-305. Confessions of judgment -- incomplete instruments forbidden. A licensee...
32-5-306. Insurance -- real property security -- definitions - 32-5-306. Insurance -- real property security -- definitions. (1) Except...
32-5-307. Records to be kept - 32-5-307. Records to be kept. Each licensee shall keep or...
32-5-308. Annual report - 32-5-308. Annual report. (1) A licensee shall file an annual...
32-5-309. Advertising -- limitations - 32-5-309. Advertising -- limitations. No person shall advertise, display, distribute,...
32-5-310. Wage assignments -- limitations - 32-5-310. Wage assignments -- limitations. (1) Subject to the limitations...
32-5-311. Precomputed interest prohibited - 32-5-311. Precomputed interest prohibited. All consumer loans made or refinanced...
32-5-312. through 32-5-320 reserved - 32-5-312 through 32-5-320 reserved.
32-5-321. Repealed - 32-5-321. Repealed. Secs. 22, 24(1), Ch. 372, L. 2007. History:...
32-5-322. Repealed - 32-5-322. Repealed. Secs. 22, 24(1), Ch. 372, L. 2007. History:...
32-5-323. Repealed - 32-5-323. Repealed. Secs. 22, 24(1), Ch. 372, L. 2007. History:...
32-5-324. Repealed - 32-5-324. Repealed. Secs. 22, 24(1), Ch. 372, L. 2007. History:...
Part 4. Enforcement
32-5-401. Department -- powers and duties -- adoption of rules - 32-5-401. Department -- powers and duties -- adoption of rules....
32-5-402. Investigations by department -- subpoenas -- oaths -- examination of witnesses and evidence - 32-5-402. Investigations by department -- subpoenas -- oaths -- examination...
32-5-403. Examinations -- cost - 32-5-403. Examinations -- cost. (1) The department may examine the...
32-5-404. Repealed - 32-5-404. Repealed. Secs. 22, 24(1), Ch. 372, L. 2007. History:...
32-5-405. Injunctions -- receivers - 32-5-405. Injunctions -- receivers. (1) Whenever the department has reasonable...
32-5-406. Repealed - 32-5-406. Repealed. Secs. 22, 24(1), Ch. 372, L. 2007. History:...
32-5-407. Attorney fees -- bad check fee - 32-5-407. Attorney fees -- bad check fee. (1) If provided...
32-5-408. Cease and desist orders - 32-5-408. Cease and desist orders. (1) If the department determines...
32-5-409. Complaint procedure - 32-5-409. Complaint procedure. (1) The department shall maintain a list...
Part 5. Open-End Loans (Repealed)
32-5-501. Repealed - 32-5-501. Repealed. Secs. 22, 24(1), Ch. 372, L. 2007. History:...
32-5-502. Repealed - 32-5-502. Repealed. Secs. 22, 24(1), Ch. 372, L. 2007. History:...
32-5-503. Repealed - 32-5-503. Repealed. Secs. 22, 24(1), Ch. 372, L. 2007. History:...
32-5-504. Repealed - 32-5-504. Repealed. Secs. 22, 24(1), Ch. 372, L. 2007. History:...
32-5-505. Repealed - 32-5-505. Repealed. Secs. 22, 24(1), Ch. 372, L. 2007. History:...
32-5-506. Repealed - 32-5-506. Repealed. Secs. 22, 24(1), Ch. 372, L. 2007. History:...
Chapter 6. Electronic Funds Transfer Act
32-6-101. Short title - 32-6-101. Short title. This chapter shall be known and may...
32-6-102. Electronic funds transfer systems -- applicability - 32-6-102. Electronic funds transfer systems -- applicability. (1) The legislature...
32-6-103. Definitions - 32-6-103. Definitions. As used in this chapter, unless the context...
32-6-104. Consumer information -- charge for use of electronic terminal - 32-6-104. Consumer information -- charge for use of electronic terminal....
32-6-105. Protection of privacy - 32-6-105. Protection of privacy. (1) No information relating to any...
32-6-106. Unauthorized disclosure of electronic funds transfer records - 32-6-106. Unauthorized disclosure of electronic funds transfer records. (1) A...
Part 2. Satellite Terminals (Repealed)
32-6-201. Repealed - 32-6-201. Repealed. Sec. 16, Ch. 265, L. 1995. History: En....
32-6-202. Repealed - 32-6-202. Repealed. Sec. 16, Ch. 265, L. 1995. History: En....
32-6-203. Repealed - 32-6-203. Repealed. Sec. 16, Ch. 265, L. 1995. History: En....
32-6-204. Repealed - 32-6-204. Repealed. Sec. 16, Ch. 265, L. 1995. History: En....
Part 3. Operation
32-6-301. Records of electronic funds transfers - 32-6-301. Records of electronic funds transfers. (1) A satellite terminal...
32-6-302. Verification of statement -- procedure for discrepancies - 32-6-302. Verification of statement -- procedure for discrepancies. (1) If,...
32-6-303. Unauthorized transactions -- liability - 32-6-303. Unauthorized transactions -- liability. (1) A customer whose account...
32-6-304. Repealed - 32-6-304. Repealed. Sec. 17, Ch. 117, L. 1997. History: En....
32-6-305. Repealed - 32-6-305. Repealed. Sec. 16, Ch. 265, L. 1995. History: En....
32-6-306. Personal identification number -- restrictions - 32-6-306. Personal identification number -- restrictions. (1) A financial institution...
32-6-307. Repealed - 32-6-307. Repealed. Sec. 16, Ch. 265, L. 1995. History: En....
32-6-308. Repealed - 32-6-308. Repealed. Sec. 16, Ch. 265, L. 1995. History: En....
32-6-309. Repealed - 32-6-309. Repealed. Sec. 16, Ch. 265, L. 1995. History: En....
Part 4. Regulation and Enforcement (Repealed)
32-6-401. Repealed - 32-6-401. Repealed. Sec. 17, Ch. 117, L. 1997. History: En....
32-6-402. Repealed - 32-6-402. Repealed. Sec. 17, Ch. 117, L. 1997. History: En....
Chapter 7. Escrow Businesses
Part 1. Regulation of Escrow Businesses
32-7-101. Title and purpose - 32-7-101. Title and purpose. (1) This part must be known...
32-7-102. Definitions - 32-7-102. Definitions. As used in this part, unless the context...
32-7-103. Exemptions - 32-7-103. Exemptions. (1) The provisions of this part do not...
32-7-104. Exemption or exception -- burden of proof - 32-7-104. Exemption or exception -- burden of proof. In any...
32-7-105. through 32-7-107 reserved - 32-7-105 through 32-7-107 reserved.
32-7-108. Department -- powers and duties - 32-7-108. Department -- powers and duties. (1) The department shall...
32-7-109. Application for license -- bond -- issuance - 32-7-109. Application for license -- bond -- issuance. (1) A...
32-7-110. Fees - 32-7-110. Fees. (1) (a) An applicant for licensure shall pay...
32-7-111. Transferability - 32-7-111. Transferability. An escrow business license is not transferable or...
32-7-112. Department authority to utilize nationwide licensing system for licensing escrow businesses - 32-7-112. Department authority to utilize nationwide licensing system for licensing...
32-7-113. and 32-7-114 reserved - 32-7-113 and 32-7-114 reserved.
32-7-115. Maintenance of records - 32-7-115. Maintenance of records. (1) A licensee shall establish and...
32-7-116. Statement of account - 32-7-116. Statement of account. A licensee shall provide a full...
32-7-117. Deposit of funds required -- disbursement - 32-7-117. Deposit of funds required -- disbursement. (1) All money...
32-7-118. through 32-7-120 reserved - 32-7-118 through 32-7-120 reserved.
32-7-121. Unauthorized business practices -- penalty - 32-7-121. Unauthorized business practices -- penalty. Unauthorized business practices of...
32-7-122. Investigations by department -- desist order -- injunctions or other actions - 32-7-122. Investigations by department -- desist order -- injunctions or...
32-7-123. Subpoenas -- oaths -- examinations of witness and evidence - 32-7-123. Subpoenas -- oaths -- examinations of witness and evidence....
32-7-124. Hearings -- penalties - 32-7-124. Hearings -- penalties. (1) The department may impose a...
Chapter 8. Montana Foreign Capital Depository Act (Repealed)
Part 1. General Provisions -- Definitions (Repealed)
32-8-101. Repealed - 32-8-101. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-102. Repealed - 32-8-102. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-103. Repealed - 32-8-103. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-104. Repealed - 32-8-104. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-105. Repealed - 32-8-105. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-106. Repealed - 32-8-106. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-107. Repealed - 32-8-107. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
Part 2. Charter -- Application -- Fee (Repealed)
32-8-201. Repealed - 32-8-201. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-202. Repealed - 32-8-202. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-203. Repealed - 32-8-203. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-204. Repealed - 32-8-204. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-205. Repealed - 32-8-205. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
Part 3. Regulation and Supervision -- Depository Account and Services (Repealed)
32-8-301. Repealed - 32-8-301. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-302. Repealed - 32-8-302. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-303. Repealed - 32-8-303. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-304. Repealed - 32-8-304. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-305. reserved - 32-8-305 reserved.
32-8-306. Repealed - 32-8-306. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-307. reserved - 32-8-307 reserved.
32-8-308. Repealed - 32-8-308. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-309. Repealed - 32-8-309. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-310. reserved - 32-8-310 reserved.
32-8-311. Repealed - 32-8-311. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-312. Repealed - 32-8-312. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-313. reserved - 32-8-313 reserved.
32-8-314. Repealed - 32-8-314. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-315. Repealed - 32-8-315. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-316. Repealed - 32-8-316. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
Part 4. Precious Metals Accounts (Repealed)
32-8-401. Repealed - 32-8-401. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-402. Repealed - 32-8-402. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-403. Repealed - 32-8-403. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-404. Repealed - 32-8-404. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
Part 5. Financial Privacy (Repealed)
32-8-501. Repealed - 32-8-501. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-502. Repealed - 32-8-502. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-503. Repealed - 32-8-503. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-504. Repealed - 32-8-504. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-505. Repealed - 32-8-505. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-506. Repealed - 32-8-506. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-507. Repealed - 32-8-507. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-508. Repealed - 32-8-508. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-509. Repealed - 32-8-509. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-510. Repealed - 32-8-510. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-511. through 32-8-514 reserved - 32-8-511 through 32-8-514 reserved.
32-8-515. Repealed - 32-8-515. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-516. Repealed - 32-8-516. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-517. Repealed - 32-8-517. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-518. Repealed - 32-8-518. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-519. and 32-8-520 reserved - 32-8-519 and 32-8-520 reserved.
32-8-521. Repealed - 32-8-521. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-522. Repealed - 32-8-522. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-523. Repealed - 32-8-523. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-524. Repealed - 32-8-524. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
Part 6. Injunctions -- Penalties (Repealed)
32-8-601. Repealed - 32-8-601. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-602. Repealed - 32-8-602. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
32-8-603. Repealed - 32-8-603. Repealed. Sec. 23, Ch. 163, L. 2005. History: En....
Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators
Part 1. Montana Mortgage Act
32-9-101. Short title and purpose - 32-9-101. Short title and purpose. (1) This part may be...
32-9-102. License requirement -- registration - 32-9-102. License requirement -- registration. (1) Unless exempt under 32-9-104,...
32-9-103. Definitions - 32-9-103. Definitions. As used in this part, the following definitions...
32-9-104. Exemptions -- proof of exemption - 32-9-104. Exemptions -- proof of exemption. (1) The provisions of...
32-9-105. Nationwide mortgage licensing system for mortgage brokers, mortgage lenders, mortgage servicers, and mortgage loan originators - 32-9-105. Nationwide mortgage licensing system for mortgage brokers, mortgage lenders,...
32-9-106. Simultaneous licensure - 32-9-106. Simultaneous licensure. An entity may be simultaneously licensed as...
32-9-107. Prelicensing education requirements for mortgage loan originators - 32-9-107. Prelicensing education requirements for mortgage loan originators. (1) An...
32-9-108. Repealed - 32-9-108. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-9-109. Experience requirements - 32-9-109. Experience requirements. (1) An individual may not act as...
32-9-110. Examination requirements for mortgage loan originators - 32-9-110. Examination requirements for mortgage loan originators. (1) An individual...
32-9-111. Repealed - 32-9-111. Repealed. Sec. 18, Ch. 498, L. 2007. History: En....
32-9-112. Application for mortgage broker, mortgage lender, mortgage servicer, and mortgage loan originator license -- renewals - 32-9-112. Application for mortgage broker, mortgage lender, mortgage servicer, and...
32-9-113. Control persons -- application for license -- renewal - 32-9-113. Control persons -- application for license -- renewal. For...
32-9-114. Repealed - 32-9-114. Repealed. Sec. 38, Ch. 317, L. 2011. History: En....
32-9-115. Repealed - 32-9-115. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-9-116. Employment of mortgage loan originator - 32-9-116. Employment of mortgage loan originator. (1) A mortgage loan...
32-9-117. Fees -- disposition of fees -- rulemaking - 32-9-117. Fees -- disposition of fees -- rulemaking. (1) (a)...
32-9-118. Continuing education requirements for mortgage loan originators - 32-9-118. Continuing education requirements for mortgage loan originators. (1) All...
32-9-119. Repealed - 32-9-119. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-9-120. Denial of mortgage broker, mortgage lender, mortgage servicer, or mortgage loan originator license application or license renewal - 32-9-120. Denial of mortgage broker, mortgage lender, mortgage servicer, or...
32-9-121. Records maintenance - 32-9-121. Records maintenance. (1) Licensees shall maintain books, accounts, records,...
32-9-122. Designated manager and branch office license requirements - 32-9-122. Designated manager and branch office license requirements. (1) A...
32-9-123. Surety bond requirement -- notice of legal action - 32-9-123. Surety bond requirement -- notice of legal action. (1)...
32-9-124. Prohibitions -- required disclosure - 32-9-124. Prohibitions -- required disclosure. (1) A mortgage broker, mortgage...
32-9-125. Repealed - 32-9-125. Repealed. Sec. 33, Ch. 125, L. 2013. History: En....
32-9-126. Revocation, suspension, conditioning, and reinstatement of licenses - 32-9-126. Revocation, suspension, conditioning, and reinstatement of licenses. (1) The...
32-9-127. Repealed - 32-9-127. Repealed. Sec. 38, Ch. 317, L. 2011. History: En....
32-9-128. Registration and registered agent of foreign entities -- service of process -- venue - 32-9-128. Registration and registered agent of foreign entities -- service...
32-9-129. Loan processors and underwriters - 32-9-129. Loan processors and underwriters. A person engaging in loan...
32-9-130. Department authority -- rulemaking - 32-9-130. Department authority -- rulemaking. (1) The department shall adopt...
32-9-131. Repealed - 32-9-131. Repealed. Sec. 18, Ch. 498, L. 2007. History: En....
32-9-132. Injunctions -- receivers - 32-9-132. Injunctions -- receivers. (1) Whenever the department has reasonable...
32-9-133. Penalties -- restitution - 32-9-133. Penalties -- restitution. (1) If the department finds, after...
32-9-134. License renewal -- rulemaking - 32-9-134. License renewal -- rulemaking. (1) All persons licensed under...
32-9-135. Independent contractor entity -- responsible individual -- loan processor or underwriter - 32-9-135. Independent contractor entity -- responsible individual -- loan processor...
32-9-136. through 32-9-140 reserved - 32-9-136 through 32-9-140 reserved.
32-9-141. Investigations by department -- subpoenas -- oaths -- examination of witnesses and evidence - 32-9-141. Investigations by department -- subpoenas -- oaths -- examination...
32-9-142. Cease and desist orders - 32-9-142. Cease and desist orders. (1) If it appears to...
32-9-143. and 32-9-144 reserved - 32-9-143 and 32-9-144 reserved.
32-9-145. Escrow fund - 32-9-145. Escrow fund. (1) An escrow fund authorized for any...
32-9-146. and 32-9-147 reserved - 32-9-146 and 32-9-147 reserved.
32-9-148. Disclosure of mortgage costs by mortgage lender - 32-9-148. Disclosure of mortgage costs by mortgage lender. (1) A...
32-9-149. Use of name -- advertising - 32-9-149. Use of name -- advertising. (1) A licensee engaged...
32-9-150. Unique identifier for mortgage brokers, mortgage lenders, mortgage servicers, mortgage loan originators, and registered mortgage loan originators - 32-9-150. Unique identifier for mortgage brokers, mortgage lenders, mortgage servicers,...
32-9-151. Mortgage call reports - 32-9-151. Mortgage call reports. (1) Each licensee shall submit to...
32-9-152. Electronic record as original document - 32-9-152. Electronic record as original document. Any document or record...
32-9-153. and 32-9-154 reserved - 32-9-153 and 32-9-154 reserved.
32-9-155. Nationwide mortgage licensing system information challenge process - 32-9-155. Nationwide mortgage licensing system information challenge process. The department...
32-9-156. through 32-9-159 reserved - 32-9-156 through 32-9-159 reserved.
32-9-160. Confidentiality - 32-9-160. Confidentiality. (1) (a) Except as otherwise provided in section...
32-9-161. through 32-9-164 reserved - 32-9-161 through 32-9-164 reserved.
32-9-165. Types of licenses - 32-9-165. Types of licenses. (1) The four types of licenses...
32-9-166. Reports - 32-9-166. Reports. (1) A licensee shall file a written report...
32-9-167. Change of control - 32-9-167. Change of control. (1) Without the prior approval of...
32-9-168. Mortgage lender prohibitions - 32-9-168. Mortgage lender prohibitions. A mortgage lender may not: (1)...
32-9-169. Mortgage servicer prohibitions - 32-9-169. Mortgage servicer prohibitions. A mortgage servicer may not: (1)...
32-9-170. Mortgage servicer duties - 32-9-170. Mortgage servicer duties. In addition to any duties imposed...
32-9-171. Mortgage servicer capital requirements - 32-9-171. Mortgage servicer capital requirements. (1) The following definitions apply...
32-9-172. Mortgage lender net worth requirement - 32-9-172. Mortgage lender net worth requirement. (1) A mortgage lender...
Chapter 10. Montana Residential Mortgage Lender Licensing Act (Repealed)
Part 1. General Provisions (Repealed)
32-10-101. Repealed - 32-10-101. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-10-102. Repealed - 32-10-102. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-10-103. Repealed - 32-10-103. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
Part 2. Licensing (Repealed)
32-10-201. Repealed - 32-10-201. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-10-202. Repealed - 32-10-202. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-10-203. Repealed - 32-10-203. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-10-204. Repealed - 32-10-204. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-10-205. and 32-10-206 reserved - 32-10-205 and 32-10-206 reserved.
32-10-207. Repealed - 32-10-207. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-10-208. Repealed - 32-10-208. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-10-209. Repealed - 32-10-209. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
Part 3. Regulation of Licensees (Repealed)
32-10-301. Repealed - 32-10-301. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-10-302. Repealed - 32-10-302. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-10-303. Repealed - 32-10-303. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-10-304. through 32-10-308 reserved - 32-10-304 through 32-10-308 reserved.
32-10-309. Repealed - 32-10-309. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-10-310. Repealed - 32-10-310. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
Part 4. Violations (Repealed)
32-10-401. Repealed - 32-10-401. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-10-402. Repealed - 32-10-402. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-10-403. Repealed - 32-10-403. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-10-404. Repealed - 32-10-404. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-10-405. Repealed - 32-10-405. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-10-406. Repealed - 32-10-406. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
Part 5. Enforcement (Repealed)
32-10-501. Repealed - 32-10-501. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-10-502. Repealed - 32-10-502. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-10-503. Repealed - 32-10-503. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-10-504. Repealed - 32-10-504. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-10-505. Repealed - 32-10-505. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-10-506. Repealed - 32-10-506. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-10-507. Repealed - 32-10-507. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-10-508. through 32-10-511 reserved - 32-10-508 through 32-10-511 reserved.
32-10-512. Repealed - 32-10-512. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-10-513. Repealed - 32-10-513. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-10-514. Repealed - 32-10-514. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
32-10-515. Repealed - 32-10-515. Repealed. Sec. 34, Ch. 321, L. 2009. History: En....
Chapter 11. Business and Industrial Development Corporations
Part 1. General Procedures -- Definitions -- Purposes
32-11-101. Short title - 32-11-101. Short title. This chapter may be cited as the...
32-11-102. Definitions - 32-11-102. Definitions. In this chapter, unless the context requires otherwise,...
32-11-103. Purposes - 32-11-103. Purposes. The purposes of this chapter are to: (1)...
32-11-104. Meetings of directors and shareholders called by department - 32-11-104. Meetings of directors and shareholders called by department. (1)...
32-11-105. Administration -- rules -- orders -- declaratory rulings -- judicial review - 32-11-105. Administration -- rules -- orders -- declaratory rulings --...
32-11-106. Authority of department - 32-11-106. Authority of department. The provisions of this chapter relating...
32-11-107. Confidentiality - 32-11-107. Confidentiality. (1) The director and other employees of the...
32-11-108. Application of law under which licensee incorporated - 32-11-108. Application of law under which licensee incorporated. Except as...
Part 2. Licensure Procedures -- Board of Directors
32-11-201. Application procedure - 32-11-201. Application procedure. When applying for a license, an applicant...
32-11-202. Requisite net worth - 32-11-202. Requisite net worth. (1) In order to receive a...
32-11-203. Fees -- special revenue account - 32-11-203. Fees -- special revenue account. (1) A fee for...
32-11-204. Criteria for directors, officers, and controlling persons - 32-11-204. Criteria for directors, officers, and controlling persons. (1) A...
32-11-205. Determination of likelihood of future noncompliance - 32-11-205. Determination of likelihood of future noncompliance. The department may...
32-11-206. Denial of application - 32-11-206. Denial of application. If the department denies a license,...
32-11-207. License -- display -- transfer or assignment -- surrender - 32-11-207. License -- display -- transfer or assignment -- surrender....
32-11-208. Corporate name and representation of status - 32-11-208. Corporate name and representation of status. (1) The corporate...
32-11-209. Misrepresentation - 32-11-209. Misrepresentation. (1) Except as otherwise provided in 32-11-208, a...
32-11-210. Dividends - 32-11-210. Dividends. (1) A licensee may not pay or obligate...
32-11-211. Stock buyback - 32-11-211. Stock buyback. A licensee may not buy back or...
32-11-212. Offices - 32-11-212. Offices. (1) A licensee shall maintain at least one...
32-11-213. and 32-11-214 reserved - 32-11-213 and 32-11-214 reserved.
32-11-215. Board of directors - 32-11-215. Board of directors. (1) The board of directors of...
32-11-216. Notice of officer and director changes - 32-11-216. Notice of officer and director changes. Within 30 days...
32-11-217. Business of licensee -- general powers - 32-11-217. Business of licensee -- general powers. (1) A licensee...
32-11-218. Financing assistance allowed -- forms, terms, conditions - 32-11-218. Financing assistance allowed -- forms, terms, conditions. (1) The...
32-11-219. Participation in government programs - 32-11-219. Participation in government programs. (1) A licensee may participate...
32-11-220. Scope of management assistance - 32-11-220. Scope of management assistance. When providing management assistance, a...
32-11-221. Limitation to purposes of business - 32-11-221. Limitation to purposes of business. Financing assistance and management...
32-11-222. Control of other businesses - 32-11-222. Control of other businesses. (1) A licensee may not...
32-11-223. Control of assisted business - 32-11-223. Control of assisted business. (1) A licensee that has...
32-11-224. Control of business providing financing assistance and management assistance or other businesses - 32-11-224. Control of business providing financing assistance and management assistance...
32-11-225. Business practice standards and reserve - 32-11-225. Business practice standards and reserve. (1) A licensee shall...
32-11-226. Other licenses - 32-11-226. Other licenses. A corporation that is licensed under this...
Part 3. Acquisition and Merger
32-11-301. Disclosure of potential conflict of interest -- terms and conditions -- examples - 32-11-301. Disclosure of potential conflict of interest -- terms and...
32-11-302. Acquiring control of licensee -- application -- determination - 32-11-302. Acquiring control of licensee -- application -- determination. (1)...
32-11-303. Merger -- purchase -- sale - 32-11-303. Merger -- purchase -- sale. (1) A licensee may...
32-11-304. Records and report requirements - 32-11-304. Records and report requirements. (1) A licensee shall make...
32-11-305. Records kept by others - 32-11-305. Records kept by others. (1) If a person other...
32-11-306. Information on economic development effect - 32-11-306. Information on economic development effect. Each year in which...
32-11-307. Examination of licensees and subsidiaries - 32-11-307. Examination of licensees and subsidiaries. (1) The department may...
32-11-308. Inspection or copying refusal - 32-11-308. Inspection or copying refusal. A person having custody of...
32-11-309. Restrictions on financing assistance - 32-11-309. Restrictions on financing assistance. (1) A licensee may not...
32-11-310. Contemporaneous financing assistance - 32-11-310. Contemporaneous financing assistance. (1) If the terms on which...
32-11-311. Compensation of associate - 32-11-311. Compensation of associate. (1) An associate of a licensee...
32-11-312. Associates - 32-11-312. Associates. (1) For purposes of 32-11-301 and 32-11-309 through...
32-11-313. Exemptions - 32-11-313. Exemptions. (1) If the department finds that the exemption...
Part 4. Investigations and Penalties
32-11-401. Investigations -- powers -- failure to comply or testify - 32-11-401. Investigations -- powers -- failure to comply or testify....
32-11-402. Injunction -- appointment of receiver - 32-11-402. Injunction -- appointment of receiver. (1) If in the...
32-11-403. Cease and desist orders - 32-11-403. Cease and desist orders. (1) If it appears to...
32-11-404. Penalties -- license suspension and revocation -- restitution - 32-11-404. Penalties -- license suspension and revocation -- restitution. (1)...
32-11-405. Removal and suspension orders for certain acts - 32-11-405. Removal and suspension orders for certain acts. (1) The...
32-11-406. Removal and suspension orders in cases of indictment or conviction - 32-11-406. Removal and suspension orders in cases of indictment or...
32-11-407. Hearings on orders -- recision and modification - 32-11-407. Hearings on orders -- recision and modification. (1) Within...
32-11-408. through 32-11-410 reserved - 32-11-408 through 32-11-410 reserved.
32-11-411. Disclosure to shareholders - 32-11-411. Disclosure to shareholders. If the department determines that the...
32-11-412. Orders restricting additional financing assistance - 32-11-412. Orders restricting additional financing assistance. (1) The department may...
32-11-413. Taking possession of licensee - 32-11-413. Taking possession of licensee. (1) If the department finds...
32-11-414. Appeals - 32-11-414. Appeals. A final order of an administrative proceeding under...